Ramsgate Street, London, E8
The site
Ramsgate Street is a 0.14 hectare site located in Dalston in the London Borough of Hackney, adjacent to a conservation area.
The site was occupied by terraced housing in the 19th Century, and during the first half of the 20th Century the northern part of the site was redeveloped for use as a clothing factory. The remaining housing was cleared in the 1970s, and the clothing factory and a car park continued to occupy the site.
From 2010, Ramsgate Street will provide 66 flats, a 1200sqm commercial workspace and basement car parking. Twenty-five flats, including four large family maisonettes with private gardens, will be for affordable rent and shared ownership sale.
The scheme
Ramsgate Street is an innovative 14 storey tower, incorporating shared ownership, private residential and commercial space, with affordable rented accommodation in a low rise wing.
MHP assembled a full team of construction, planning and marketing professionals, and created a development strategy that maximised the potential value - doubling the affordable housing previously available within a technically complex building that could be constructed to a set budget.
The deal
MHP purchased the site from a private developer, and achieved planning permission in May 2007 for the development of an innovative building that would form an important part in the design led regeneration of the middle of Dalston.
MHP sold the scheme to a private developer, Telford Homes, in December 2007, and entered into a contract to buy back the affordable housing by March 2010.
